| Abstract [eng] |
There is a growing recognition that artificial intelligence could be used in corporate governance due to its high information processing capabilities. Therefore, this paper analyzes whether the existing company legal framework is sufficient to allow the use of artificial intelligence in corporate governance, or whether it is necessary to adjust the legislation, and then what changes should be implemented. The first part analyzes the potential impact of artificial intelligence on corporate governance, i.e. whether the legal framework allows members of management bodies to delegate some of their powers to artificial intelligence, whether the delegation of management functions to artificial intelligence could become an obligation since the business judgment rule requires to gather all relevant information before making a decision, possible influence of artificial intelligence on fiduciary duties of members of management bodies, what are legal possibilities for artificial intelligence to replace members of management bodies in general and the possible impact on corporate governance process when both natural persons and artificial intelligence are appointed to the board, i.e. when hybrid boards are formed. The second part analyzes the concept of autonomous companies and whether the current legal framework allows their establishment and operation. The third part examines the liability issues of natural members of management bodies when using assisted and augmented artificial intelligence or acting in hybrid boards, as well as the liability of the company and shareholders for illegal decisions made by autonomous artificial intelligence. The fourth part discusses the impact of artificial intelligence to the regulation of the purpose of the companies. The paper is finalised with the conclusions that current company regulation does not provide with the possibilities to exploit artificial intelligence in companies, therefore, the relevant adjustments will have to be made. |
